Residents / Expats and other Tax Services

EMPLOYEE SHARE SCHEMES

Increase the value of your employees’ shareholdings with no cost to the company

Talent retention is one of the fundamental challenges that businesses continuously face. Employee share plans are one of the strongest benefits that companies use to retain and incentivise their key staff.

Withholding Tax Refunds

If your company provides staff with the opportunity to participate in a share plan, staff members resident outside of the issuing country are subject to withholding tax on their dividends. In many cases, this tax may be reclaimed under tax treaties depending on where the employees reside.

What we offer

Taxback.com offers a Dividend Withholding Tax (DWT) reclaim solution for employees to reclaim their over-withheld paid DWT without any cost to the company.

Taxback.com will create a tailored online portal for your employees to upload their dividend information

Company Share Plan Refunds in Action

A Swiss pharmaceutical company operates a share scheme for its employees. Through the scheme, employees of the London branch periodically receive dividends on their shares. As the company is Swiss, dividend withholding tax (DWT) of 35% is applied to the dividend.

The company approached Taxback.com for help with reclaiming the DWT that had been applied to the UK employees’ dividend payments.

Tax Treaty Relief

Under the double tax treaty between the UK and Switzerland, the withholding tax should have been applied at a rate of 15% to UK-resident shareholders.

The UK employees were entitled to reclaim the difference between the rate applied (35%) and the tax treaty rate (15%).

Our Service

We created a bespoke online portal for the company with log-in access for shareholders

The portal included a tax refund estimator which calculated the potential refund due

Employees uploaded dividend information for analysis

We prepared tax returns for the tax offices

When the refund came back, we transferred the payment to the employees net of our fee

Taxback.com organised a number of tax clinics on-site at our Novartis Cork Facility. They catered for individual team members' needs by covering a range of tax issues from Dividend Withholding Tax to Expatriate Taxes. The tax clinics were a big success with huge interest shown by our staff. Taxback.com were extremely easy to deal with and professional in their approach and most importantly they managed to simplify complex tax issues for our staff

Donal O'Sullivan - Head of Human Resources, Novartis

Where to Next

If you’d like to have a free, no obligation chat about withholding tax refunds for company shareholders, please fill out the short form below and we’ll be in touch.

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